Harbour Trust & Investment Management Co Has $5.28 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Harbour Trust & Investment Management Co reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,286 shares of the business services provider's stock after selling 1,485 shares during the quarter. Harbour Trust & Investment Management Co's holdings in Automatic Data Processing were worth $5,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. AMG National Trust Bank raised its holdings in shares of Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after purchasing an additional 33 shares during the period. Sentinus LLC raised its holdings in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares during the period. Rehmann Capital Advisory Group raised its holdings in shares of Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after purchasing an additional 36 shares during the period. Main Street Group LTD increased its holdings in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares during the period. Finally, Howard Financial Services LTD. increased its holdings in shares of Automatic Data Processing by 2.2% in the 1st quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock worth $530,000 after acquiring an additional 38 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $3.91 during midday trading on Thursday, reaching $308.96. 1,393,190 shares of the company traded hands, compared to its average volume of 1,714,041. The firm has a market cap of $125.41 billion, a PE ratio of 31.62, a PEG ratio of 2.84 and a beta of 0.76. The stock's 50-day simple moving average is $311.86 and its 200-day simple moving average is $303.33. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the business posted $2.88 earnings per share. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $1.54 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.99%. Automatic Data Processing's dividend payout ratio is 63.05%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Mizuho increased their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, UBS Group decreased their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $307.08.

Insider Activity

In related news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president directly owned 7,364 shares of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.